ESPOO - Nokia Oyj (HE:NOKIA) (NYSE:NOK) reported on Friday that it has continued its share repurchase initiative, acquiring a total of 875,685 of its own shares at an average price of €4.27 per share on the Helsinki Stock Exchange (XHEL). The transaction forms part of a broader buyback program aimed at mitigating the dilutive effect of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives.
The buyback program, which was announced on November 22, 2024, is executed in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024. The program commenced on November 25, 2024, and is scheduled to conclude by December 31, 2025, with the objective of acquiring up to 150 million shares using a maximum of €900 million.
As of the latest transaction on Friday, the total cost amounted to €3,740,926, bringing Nokia's total held treasury shares to 220,370,243. The initiative is part of the Finnish telecom giant's strategy to manage its capital structure and to distribute value to its shareholders effectively.
Nokia, a global leader in technology that connects people and things, is recognized for its innovations and contributions in the fields of fixed, mobile, and cloud network solutions. The company prides itself on its commitment to performance, sustainability, and security standards in its network offerings, serving service providers, enterprises, and partners worldwide.
The information provided in this report is based on a press release statement from Nokia Oyj.
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